Capital Strategy
Debt, Equity or Structured Capital: Which Route Fits?
A decision framework for CFOs and promoters comparing repayment, dilution, control, timing and transaction risk.
30 September 2026 · 7 min read
The right capital is not automatically the cheapest quoted capital. It is the structure whose repayment, ownership and risk profile fit what the business is trying to achieve.
Start with the cash flow
Debt needs a visible repayment source. Equity needs a credible path to enterprise value. Structured capital sits between them, but its flexibility usually comes with negotiated protections and a defined exit.
Compare the real trade-offs
Promoters should compare cost, dilution, security, covenants, governance, timing and downside resilience together—not one headline term in isolation.
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